Morphic began trading on the Nasdaq Global Market yesterday after issuing 6 million shares priced at $15 each, providing exits to AbbVie, GSK, Novo, Pfizer, Schrödinger and ShangPharma.
Morphic Therapeutic, a US-based biotechnology developer based on research at Harvard University, raised $90m in its initial public offering yesterday.
The company issued 6 million shares on the Nasdaq Global Market priced at $15 each, in the middle of the IPO’s range, valuing it at approximately $444m. The offering is expected to conclude on July 1, and the company’s shares closed at $18.00 in their first day of trading.
Founded in 2015, Morphic is developing small molecule…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
